The global scooter market is valued at $ 32.5 billion in 2019 and is expected to grow at a CAGR of 2.1% to $ 38.4 billion in 2027. Technological advances in the automotive industry will open new avenues for newer revenue models. Growing awareness of climate change and emissions has transformed the way car users consume, compelling car manufacturers to develop greener technologies that meet current and future consumer needs. Conventional scooters powered by burning fossil fuels to generate electricity for internal combustion engines face challenges as fossil fuel pollution leads to government regulations. Scooter manufacturers are researching electrical drives for driving new-age scooters. Electric scooters or e-scooters use either batteries or hydrogen fuel cells to power the motors that power the bike. Battery technology plays an important role in the performance of electric scooters. Conventional lead-acid batteries used in automobiles have a shorter lifespan and require frequent maintenance. These factors have encouraged industry players to develop novel battery technologies. New battery technologies, including lithium-ion batteries, are becoming increasingly popular because of their higher energy storage capacity, depth of discharge and longer lifespan compared to lead-acid batteries, among other things. These properties of lithium-ion batteries have led the manufacturers of electric scooters to include this technology in their offerings. For example, Bajaj Auto Limited launched an electric version of its Chetak scooter in 2019 that runs on a lithium-ion battery and can travel up to 95 km on a single charge. Scooter manufacturers are also working with other companies to develop viable lithium battery technologies. For example, in 2017 Toshiba Corporation, Suzuki Motor Corporation and DENSO Corporation announced their partnership to develop and manufacture lithium-ion batteries for automotive applications including scooters.
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The current ecosystem for electric scooters presents challenges such as the lack of charging stations and the low level of maturity of the technology. However, governments around the world are taking initiatives to improve their electric scooter charging infrastructure and facilitate the use of electric scooters for general transportation. Technological advances in propulsion technologies coupled with government initiatives are expected to drive the global Scooter market during the forecast period. The demand for micromobility is increasing due to increasing traffic congestion. Technological advancement in the scooter industry has led to the development of connected electric scooters. This emergence of intelligent electric scooters has contributed to the emergence of mobility trends such as ridesharing or hail. Due to the high cost associated with buying and maintaining private scooters, people are increasingly turning to these alternative transportation services as they offer better convenience. Bike and scooter sharing is expected to see high growth as key players enter the e-scooter sharing business. For example, Uber announced a $ 170.0 million investment in the San Francisco-based electric scooter startup Lime. This trend is expected to create new models of revenue generation from electric scooters, thus stimulating demand in the global scooter market in the forecast years.
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The study analyzes the market in terms of revenue in all major regions broken down into countries.
The detailed research study offers a qualitative and quantitative analysis of the Scooter market. The market has been analyzed from both the demand and the supply side. The demand-side analysis covers the market revenues in all regions and beyond in all major countries. The supply-side analysis covers the most important market participants as well as their regional and global presence and strategies. The geographic analysis performed focuses on each of the major countries in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Main findings of the report:
- Used scooters are expected to see high growth in the global scooter market in the coming years due to their economic factors that attract large numbers of migrant workers and students.
- The Asia-Pacific region held a significant share of the global scooter market in 2018 as people’s disposable incomes are expected to increase in the region’s rapidly developing economies.
- Some of the players in the scooter market are BAOTIAN MOTORCYCLE INDUSTRIAL CO., LTD., BMW Motorrad, Gogoro Inc., Hero MotoCorp Ltd., Honda Motor Company Ltd., JIANGSU XINRI E-VEHICLE CO., LTD., Kawasaki Heavy Industries. Ltd., KWANG YANG MOTOR CO., LTD., Motive Power Industry Co. Ltd. Niu International, Piaggio & C. SpA, SANYANG MOTOR CO., LTD., Suzuki Motor Corporation, TVS Motor Company, Vmoto Limited, Yadea Technology Group Co., Ltd. and Yamaha Motor Co., Ltd among others ..
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Global Scooter Market:
- By drive
- C engine
- Lead acid
- Nickel metal hydride
- Fuel cell
- Through offers
- According to owner type
- Second hand
- According to sales channels
- By region
- North America
- Rest of north america
- The UK
- Nordic countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- South East Asia
- Rest of Southeast Asia
- Rest of the Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East and Africa
- Latin America
- Rest of Latin America
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